The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
1ST CENTURY BANCSHARES INC COM 31943X102 255 23,202 SH   OTR 1 2 0 23,202 0
ABBOTT LABS COM 002824100 126 19,600 SH Call OTR 1 2 0 19,600 0
ABILITY INC SHS G8789K108 135 22,000 SH   OTR 1 2 0 22,000 0
ALCOA INC COM 013817101 9 10,000 SH Call OTR 1 2 0 10,000 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 262 7,500 SH   OTR 1 2 0 7,500 0
ALLSTATE CORP COM 020002101 502 7,451 SH   OTR 1 2 0 7,451 0
ALLSTATE CORP COM 020002101 227 22,100 SH Call OTR 1 2 0 22,100 0
AMERICAN INTL GROUP INC COM NEW 026874784 112 11,300 SH Call OTR 1 2 0 11,300 0
AMERICAN INTL GROUP INC COM NEW 026874784 358 6,620 SH   OTR 1 2 0 6,620 0
AMERIS BANCORP COM 03076K108 213 7,209 SH   OTR 1 2 0 7,209 0
ARBOR RLTY TR INC COM 038923108 1,491 220,253 SH   OTR 1 2 0 220,253 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 235 4,092 SH   OTR 1 2 0 4,092 0
AT&T INC COM 00206R102 677 17,295 SH   OTR 1 2 0 17,295 0
AVENUE FINL HLDGS INC COM 05358K102 1,453 75,000 SH   OTR 1 2 0 75,000 0
BANK AMER CORP *W EXP 01/16/201 060505146 343 88,241 SH   OTR 1 2 0 88,241 0
BANK AMER CORP COM 060505104 10,274 759,897 SH   OTR 1 2 0 759,897 0
BANK AMER CORP COM 060505104 707 251,900 SH Call OTR 1 2 0 251,900 0
BANK NEW YORK MELLON CORP COM 064058100 74 2,000 SH   OTR 1 2 0 2,000 0
BANK NEW YORK MELLON CORP COM 064058100 197 35,800 SH Call OTR 1 2 0 35,800 0
BAY BANCORP INC COM 07203T106 114 23,698 SH   OTR 1 2 0 23,698 0
BB&T CORP COM 054937107 2,527 75,906 SH   OTR 1 2 0 75,906 0
BB&T CORP COM 054937107 187 52,900 SH Call OTR 1 2 0 52,900 0
BBCN BANCORP INC COM 073295107 304 19,981 SH   OTR 1 2 0 19,981 0
BECTON DICKINSON & CO COM 075887109 228 1,500 SH   OTR 1 2 0 1,500 0
BENEFICIAL BANCORP INC COM 08171T102 850 62,072 SH   OTR 1 2 0 62,072 0
BIOSCRIP INC COM 09069N108 32 14,802 SH   OTR 1 2 0 14,802 0
BRISTOL MYERS SQUIBB CO COM 110122108 178 2,788 SH   OTR 1 2 0 2,788 0
BRISTOL MYERS SQUIBB CO COM 110122108 130 12,000 SH Call OTR 1 2 0 12,000 0
BROOKLINE BANCORP INC DEL COM 11373M107 313 28,405 SH   OTR 1 2 0 28,405 0
CAPITAL ONE FINL CORP *W EXP 11/14/201 14040H139 3,326 116,306 SH   OTR 1 2 0 116,306 0
CAPITAL ONE FINL CORP COM 14040H105 1,581 22,810 SH   OTR 1 2 0 22,810 0
CERUS CORP COM 157085101 1,765 297,644 SH   OTR 1 2 0 297,644 0
CIT GROUP INC COM NEW 125581801 445 14,349 SH   OTR 1 2 0 14,149 0
CIT GROUP INC COM NEW 125581801 38 10,000 SH Call OTR 1 2 0 10,000 0
CITIGROUP INC COM NEW 172967424 953 22,823 SH   OTR 1 2 0 22,823 0
CITIGROUP INC COM NEW 172967424 181 36,800 SH Call OTR 1 2 0 36,800 0
CLIFTON BANCORP INC COM 186873105 207 13,697 SH   OTR 1 2 0 13,697 0
CNO FINL GROUP INC COM 12621E103 3,630 202,567 SH   OTR 1 2 0 202,567 0
COMERICA INC *W EXP 11/14/201 200340115 1,394 104,462 SH   OTR 1 2 0 104,462 0
COMERICA INC COM 200340107 546 14,402 SH   OTR 1 2 0 14,402 0
CONNECTONE BANCORP INC NEW COM 20786W107 482 29,500 SH   OTR 1 2 0 29,500 0
COWEN GROUP INC NEW CL A 223622101 900 236,333 SH   OTR 1 2 0 236,333 0
CROCS INC COM 227046109 245 25,492 SH   OTR 1 2 0 25,492 0
DISCOVER FINL SVCS COM 254709108 331 6,495 SH   OTR 1 2 0 6,495 0
EASTERN VA BANKSHARES INC COM 277196101 107 16,000 SH   OTR 1 2 0 16,000 0
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 431 6,600 SH   OTR 1 2 0 6,600 0
ENTERPRISE FINL SVCS CORP COM 293712105 1,120 41,420 SH   OTR 1 2 0 41,420 0
ESSA BANCORP INC COM 29667D104 1,312 97,288 SH   OTR 1 2 0 97,288 0
FACEBOOK INC CL A 30303M102 628 5,500 SH   OTR 1 2 0 5,500 0
FIFTH THIRD BANCORP COM 316773100 1,680 100,659 SH   OTR 1 2 0 100,659 0
FIFTH THIRD BANCORP COM 316773100 25 71,700 SH Call OTR 1 2 0 71,700 0
FIRST CLOVER LEAF FIN CORP COM 31969M105 162 17,352 SH   OTR 1 2 0 17,352 0
FIRST CMNTY CORP S C COM 319835104 195 13,500 SH   OTR 1 2 0 13,500 0
FIRST DEFIANCE FINL CORP COM 32006W106 654 17,016 SH   OTR 1 2 0 17,016 0
FIRST GTY BANCSHARES INC COM 32043P106 276 17,836 SH   OTR 1 2 0 17,836 0
FIRST NIAGARA FINL GP INC COM 33582V108 116 12,000 SH   OTR 1 2 0 12,000 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 215 10,000 SH   OTR 1 2 0 10,000 0
FRANKLIN FINL NETWORK INC COM 35352P104 1,115 41,290 SH   OTR 1 2 0 41,290 0
GENERAL ELECTRIC CO COM 369604103 65 13,500 SH Call OTR 1 2 0 13,500 0
GENIE ENERGY LTD CL B 372284208 209 27,426 SH   OTR 1 2 0 27,426 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 21 10,000 SH Call OTR 1 2 0 10,000 0
GOLDMAN SACHS BDC INC SHS 38147U107 1,070 54,578 SH   OTR 1 2 0 54,578 0
GUARANTY FED BANCSHARES INC COM 40108P101 225 15,000 SH   OTR 1 2 0 15,000 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 876 494,999 SH   OTR 1 2 0 494,999 0
HANCOCK HLDG CO COM 410120109 1,284 55,912 SH   OTR 1 2 0 55,912 0
HANMI FINL CORP COM NEW 410495204 394 17,914 SH   OTR 1 2 0 17,914 0
HANOVER INS GROUP INC COM 410867105 1,175 13,026 SH   OTR 1 2 0 13,026 0
HARTFORD FINL SVCS GROUP INC *W EXP 06/26/201 416515120 1,999 51,255 SH   OTR 1 2 0 51,255 0
HUNTINGTON BANCSHARES INC COM 446150104 349 36,613 SH   OTR 1 2 0 36,613 0
IMPAC MTG HLDGS INC COM NEW 45254P508 1,542 111,172 SH   OTR 1 2 0 111,172 0
INVENSENSE INC COM 46123D205 26 18,000 SH Call OTR 1 2 0 18,000 0
INVESTORS BANCORP INC NEW COM 46146L101 959 82,423 SH   OTR 1 2 0 82,423 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 2,549 144,006 SH   OTR 1 2 0 144,006 0
JPMORGAN CHASE & CO COM 46625H100 1,912 32,296 SH   OTR 1 2 0 32,296 0
JPMORGAN CHASE & CO COM 46625H100 915 107,900 SH Call OTR 1 2 0 107,900 0
KEARNY FINL CORP MD COM 48716P108 300 24,276 SH   OTR 1 2 0 24,276 0
KEYCORP NEW COM 493267108 1,896 171,760 SH   OTR 1 2 0 171,760 0
KEYCORP NEW COM 493267108 113 54,500 SH Call OTR 1 2 0 54,500 0
KKR & CO L P DEL COM UNITS 48248M102 338 23,000 SH   OTR 1 2 0 23,000 0
LEADING BRANDS INC COM NEW 52170U207 455 197,894 SH   OTR 1 2 0 197,894 0
LEGG MASON INC COM 524901105 284 8,177 SH   OTR 1 2 0 8,177 0
LENNAR CORP CL A 526057104 49 5,000 SH Call OTR 1 2 0 5,000 0
LENNAR CORP CL A 526057104 271 5,597 SH   OTR 1 2 0 5,597 0
LINCOLN NATL CORP IND COM 534187109 259 6,600 SH   OTR 1 2 0 6,600 0
M & T BK CORP *W EXP 12/23/201 55261F112 3,659 96,533 SH   OTR 1 2 0 96,533 0
M & T BK CORP COM 55261F104 1,525 13,736 SH   OTR 1 2 0 13,736 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 203 1,218 SH   OTR 1 2 0 1,218 0
MAIDEN HOLDINGS LTD SHS G5753U112 356 27,490 SH   OTR 1 2 0 27,490 0
MB FINANCIAL INC NEW COM 55264U108 5,494 169,294 SH   OTR 1 2 0 169,294 0
MERCHANTS BANCSHARES COM 588448100 246 8,260 SH   OTR 1 2 0 8,260 0
MERIDIAN BANCORP INC MD COM 58958U103 2,939 211,079 SH   OTR 1 2 0 211,079 0
METLIFE INC COM 59156R108 673 15,310 SH   OTR 1 2 0 15,310 0
METLIFE INC COM 59156R108 126 33,500 SH Call OTR 1 2 0 33,500 0
MIDSOUTH BANCORP INC COM 598039105 638 83,601 SH   OTR 1 2 0 83,601 0
MONARCH FINANCIAL HOLDINGS I COM 60907Q100 521 31,343 SH   OTR 1 2 0 31,343 0
MONROE CAP CORP COM 610335101 486 35,080 SH   OTR 1 2 0 35,080 0
MORGAN STANLEY COM NEW 617446448 646 25,845 SH   OTR 1 2 0 25,845 0
MORGAN STANLEY COM NEW 617446448 98 46,200 SH Call OTR 1 2 0 46,200 0
NBT BANCORP INC COM 628778102 1,455 53,997 SH   OTR 1 2 0 53,997 0
NORTHWEST BANCSHARES INC MD COM 667340103 759 56,167 SH   OTR 1 2 0 56,167 0
NXP SEMICONDUCTORS N V COM N6596X109 163 10,500 SH Call OTR 1 2 0 10,500 0
OLD SECOND BANCORP INC ILL COM 680277100 287 40,000 SH   OTR 1 2 0 40,000 0
ONE LIBERTY PPTYS INC COM 682406103 750 33,448 SH   OTR 1 2 0 33,448 0
ORITANI FINL CORP DEL COM 68633D103 183 10,778 SH   OTR 1 2 0 10,778 0
PARK STERLING CORP COM 70086Y105 129 19,370 SH   OTR 1 2 0 19,370 0
PFIZER INC COM 717081103 178 6,000 SH   OTR 1 2 0 6,000 0
PFIZER INC COM 717081103 26 10,000 SH Call OTR 1 2 0 10,000 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 300 14,760 SH   OTR 1 2 0 14,760 0
PNC FINL SVCS GROUP INC COM 693475105 3,427 40,526 SH   OTR 1 2 0 40,526 0
POPULAR INC COM NEW 733174700 314 10,982 SH   OTR 1 2 0 10,982 0
PRUDENTIAL FINL INC COM 744320102 95 19,300 SH Call OTR 1 2 0 19,300 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,362 28,900 SH   OTR 1 2 0 28,900 0
RADIUS HEALTH INC COM NEW 750469207 235 7,500 SH   OTR 1 2 0 7,500 0
REGIONS FINL CORP NEW COM 7591EP100 982 125,159 SH   OTR 1 2 0 125,159 0
REGIONS FINL CORP NEW COM 7591EP100 56 35,600 SH Call OTR 1 2 0 35,600 0
RITE AID CORP COM 767754104 322 39,568 SH   OTR 1 2 0 39,568 0
RITE AID CORP COM 767754104 50 15,000 SH Call OTR 1 2 0 15,000 0
SEACOAST BKG CORP FLA COM NEW 811707801 2,160 136,790 SH   OTR 1 2 0 136,790 0
SEAWORLD ENTMT INC COM 81282V100 35 12,000 SH Call OTR 1 2 0 12,000 0
SEAWORLD ENTMT INC COM 81282V100 211 10,000 SH   OTR 1 2 0 10,000 0
SEVERN BANCORP ANNAPOLIS MD COM 81811M100 119 23,558 SH   OTR 1 2 0 23,558 0
SKYWORKS SOLUTIONS INC COM 83088M102 334 15,100 SH Call OTR 1 2 0 15,100 0
SOUTH ST CORP COM 840441109 2,173 33,836 SH   OTR 1 2 0 33,836 0
SOUTHCOAST FINANCIAL CORP COM 84129R100 470 36,000 SH   OTR 1 2 0 36,000 0
SOUTHERN NATL BANCORP OF VA COM 843395104 5,226 438,394 SH   OTR 1 2 0 438,394 0
STATE BK FINL CORP COM 856190103 657 33,236 SH   OTR 1 2 0 33,236 0
STATE STR CORP COM 857477103 357 6,095 SH   OTR 1 2 0 6,095 0
STERLING BANCORP DEL COM 85917A100 2,289 143,664 SH   OTR 1 2 0 143,664 0
SUNTRUST BKS INC *W EXP 12/31/201 867914129 335 51,974 SH   OTR 1 2 0 51,974 0
SUNTRUST BKS INC COM 867914103 115 22,000 SH Call OTR 1 2 0 22,000 0
SUNTRUST BKS INC COM 867914103 1,047 29,020 SH   OTR 1 2 0 29,020 0
SYNOVUS FINL CORP COM NEW 87161C501 1,713 59,235 SH   OTR 1 2 0 59,235 0
TERRITORIAL BANCORP INC COM 88145X108 309 11,838 SH   OTR 1 2 0 11,838 0
TRIANGLE CAP CORP COM 895848109 883 42,915 SH   OTR 1 2 0 42,915 0
UNION BANKSHARES CORP NEW COM 90539J109 487 19,786 SH   OTR 1 2 0 19,786 0
UNITED CMNTY BANCORP IND COM 90984R101 750 55,000 SH   OTR 1 2 0 55,000 0
UNITED FINL BANCORP INC NEW COM 910304104 616 48,926 SH   OTR 1 2 0 48,926 0
UNITED PARCEL SERVICE INC CL B 911312106 211 2,000 SH   OTR 1 2 0 2,000 0
US BANCORP DEL COM NEW 902973304 986 24,300 SH   OTR 1 2 0 24,300 0
WATERSTONE FINL INC MD COM 94188P101 254 18,561 SH   OTR 1 2 0 18,561 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 493 31,500 SH   OTR 1 2 0 31,500 0
WELLS FARGO & CO NEW COM 949746101 380 75,700 SH Call OTR 1 2 0 75,700 0
WELLS FARGO & CO NEW COM 949746101 238 4,919 SH   OTR 1 2 0 4,919 0
WESTFIELD FINANCIAL INC NEW COM 96008P104 450 53,333 SH   OTR 1 2 0 53,333 0
XL GROUP PLC SHS G98290102 276 7,500 SH   OTR 1 2 0 7,500 0
YOU ON DEMAND HLDGS INC COM NEW 98741R207 46 25,000 SH   OTR 1 2 0 25,000 0
ZIONS BANCORPORATION COM 989701107 100 33,500 SH Call OTR 1 2 0 33,500 0
ZOETIS INC CL A 98978V103 154 14,700 SH Call OTR 1 2 0 14,700 0
ZOETIS INC CL A 98978V103 93 2,100 SH   OTR 1 2 0 2,100 0